MANILA, Philippines — Officials of the Commission on Audit (CoA) and the Asian Development Bank (ADB) met to discuss support for a stronger audit of foreign-assisted projects, public debt audit and Public Financial Management (PFM) reforms.
"The ADB discussed its Philippines project portfolio, noting the stronger partnership with the Philippine government in view of its growing volume of financial portfolio which is expected to increase by more than 100% in the next three years and a stronger reliance on the country's PFM system which is crucial for ADB's fiduciary responsibility," COA said in a statement.
"The ADB also discussed Project Level Financial Management Issues under the Expanded Social Assistance Project, Angat Water Transmission Improvement Project, and Health System Enhancement to Address and Limit Covid-19, among others," it added.
In the meeting last November 20 were ADB Philippines Country Director Pavit Ramachandran, Public Financial Management (PFFM) 2 Director Ruth Farrant, Human and Social Development Director Karin Schelzig, Country Operations Head (Philippines) Alain Morel, PFFM 1 Financial Management Specialist Myra Evelyn Ravelo, Ruby Alvarez (Senior Project Officer [Infrastructure], Philippines, and PFFM 2 Associate Financial Management Officer Raffy Amos.
COA Chairman Gamaliel Cordoba led the audit commission's delegation which included CoA Assistant Commissioners Martha Roxana Sese, Adela Dondonilla and Alexander Juliano; Directors Corazon Rocas, Marilyn Briones, Haide Espuelas, and Olympia Balugay; Officer in Charge Assistant Directors Ameer Gamama and Eumaida Tiongson; and the supervising auditors of the Department of Social Welfare and Development, Department of Health, Department of Transportation, Department of Public Works and Highways, Local Water Utilities Administration, and Metropolitan Waterworks and Sewerage System.
They gave an overview of COA's audit of ADB-financed foreign-assisted projects in various government agencies such as the Improving Growth Corridors in Mindanao Road Sector Project, South Commuter Railway Project, Integrated Flood Resilience and Adaptation Project - Phase 1 and Metro Manila Bridges Project, Social Protection Support Project, ESAP, HEAL 1 and HEAL 2, among many others.
Projects implemented by government-owned and controlled corporations including the Water District Development Sector Project, Emergency Assistance for the Reconstruction and Recovery of Marawi Project under Urban Climate Change Resilience Trust Fund were also discussed.
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